Bitcoin Surges to Five-Week High Amid Institutional and Whale Accumulation

Bitcoin's recent surge to a five-week high of $74,157 can be attributed to the growing influence of institutional investors and whales. According to data from crypto.news, U.S. spot Bitcoin ETFs have attracted $2.1 billion in inflows over the past three weeks.

The accumulation of large wallets has also been significant, with their share of the total supply increasing to 68.17%. This trend is seen as a bullish signal by Santiment, indicating that Bitcoin is being stored by long-term holders.